NSE Tips India

Wednesday, 21 December 2011

Weekly: As mentioned last week, Nifty broke 4850, tested previous low of 4639, and made a low of 4628. Overall trend is down and every rise is a selling opportunity to an expected lower target of 4185-3739 in coming days. In this week, consider resistance at 4810-4850, downside support at 4600, below another round of panic on the card. Fibonacci Target: 4335-3895 in coming sessions.

Today: As expected, Nifty was unable to cross 4650, slipped to 4521, and closed near two days' low. Now today consider support at 4531-4510, decisively break with volume further weakness, and may test 4400-4350, higher-level resistance at 4680-4700-4710. Higher-level time to sell side.

Wednesday, 14 December 2011

NIFTY

Last week, we saw lot of volatility in the market. But finally it was unable to hold 5000 and made a low of 4841. For the week ahead, it will take a support range of 4810-4800, decisively break and decline below the lower level target of 4750-4640. Higher-level resistance to continue at 5000-5100 - 5125 to watch out.

Today’s Tips

Nifty opened negatively after very volatility in the market, and was showing some correction situation. At the end, it was showing very good short covering in the market and closed positively. Technically below 4916, we can see more downside in the market. We can see the next target at around 4350. Now consider resistance at 4830-4911-5025. Downside support at 4730-4639-4538.

BANK NIFTY

Last week, strong move was seen, and finally it closed above the resistance level of 9000. As long as holds 9000, up-move to continue and further it will test the 9500-9750 mark. Whereas the reversal cannot be ruled out again. Weekly Trend Decider: 8956. Major support at 8300-8325 and reversal to buy side.

Today: Bank Nifty opened negatively and was showing very volatile situation in the market. At the end it closed positively. Technically below 8838, we can see weakness in that; and above 9100, we can see positivity. Because of flat closing, there were no changes in support resistance. Now we may consider support at 8500-8300-8240 and resistance at 8626-8811-9000.

HDFC LTD (LTP: 647.35) - SELLFor today's trade, short position can be initiated only in Rs654-657 range for a target of Rs640-636, with a strict stop loss of Rs664.

RECLTD (LTP: 171.35) - SELLFor today's trade, short position can be initiated only in Rs176-177.50 range for a target of Rs171-169, with a strict stop loss of Rs180.SUN PHARMA (LTP: 504.9) - SELL For today's trade, short position can be initiated only in Rs514-517 range for a target of Rs504-500, with a strict stop loss of Rs523.

MCDOWELL (LTP: 708) - SELLFor today's trade, short position can be initiated only in Rs715-720 range for a target of Rs700-690, with a strict stop loss of Rs725.